Amazon announced on Wednesday that it will invest 10 billion euros in Europe, specifically in Germany, to meet the increasing demand for its cloud services and retail products. The majority of this investment, around 8.8 billion euros, will be allocated to expanding the cloud infrastructure of its Amazon Web Services (AWS) computing unit. This move comes as the company sees potential growth in AI-powered technologies in Europe.
German Chancellor Olaf Scholz commended the investment, noting that it will lead to the creation of over 4,000 jobs in the country this year. The investment is seen as a positive sign for Germany, which has been facing economic challenges such as high energy costs, interest rates, and bureaucratic hurdles.
This latest announcement brings Amazon’s total planned investments in Germany to 17.8 billion euros. Additionally, AWS is also considering significant investments for expanding its data centers in Italy, according to a Reuters report from May.
Overall, Amazon’s investment in Europe reflects its commitment to expanding its cloud services and retail presence in the region. This move aligns with the company’s long-term strategy to capitalize on the growing demand for AI technologies and digital services within the European market. The investments are expected to not only boost Amazon’s business operations but also contribute to job creation and economic growth in the countries where these investments are being made.
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https://www.yahoo.com/tech/amazon-invests-11-billion-expand-133746396.html